ISET

The Khachapuri Index kept declining in March 2021, with the average cost of cooking one standard Imeretian khachapuri reaching 4.61 GEL. This is 1.7% lower month-on-month (compared to February 2021), and 3.4% higher year-on-year (compared to March 2020).

The Index lost ground in all Georgian cities and experienced the largest drop in Kutaisi (of 3.1%), which also appears to be the cheapest location. Due to the decline, the price of one standard Imeretian khachapuri in Kutaisi dropped from 4.63 GEL to 4.49 GEL. The prices also fell to 4.87 GEL in both Tbilisi and Telavi, losing 1% and 0.5%, respectively. While a single khachapuri in Batumi stood at 4.68 GEL, close to the average across cities. The difference in cost between the most expensive (Tbilisi, Telavi) and the cheapest (Kutaisi) cities reached 0.39 GEL.

In February 2021, the average cost of cooking one standard portion of Imeretian khachapuri stood at 4.69 GEL. This is 3.1% lower MoM (compared to January 2021) and 7.8% higher YoY (in comparison to February of 2020). On a monthly basis, at this time of the year, a downward trend in the index is not unusual, and simply relates to the decreasing price of cheese (due to an increased seasonal supply of fresh milk).

Although prices fell on a monthly basis, the price of every khachapuri ingredient increased in annual terms between February 2020 and February 2021: cheese went up by 9.5%, flour by 18.8%, eggs 7.0%, yeast 16.3%, milk by 6.9%, and butter increased by 14.6%.

In January 2021, the average price of cooking one Imeretian khachapuri stood at 4.84 GEL. Compared to the previous month (December 2020) the Khachapuri Index lost 3.5%. In annual terms (compared to January 2020), however, the index added 12.6%.

As shown in the chart, all khachapuri ingredients except eggs contributed to the yearly inflation of the Khachapuri Index. The price of only one ingredient – eggs  decreased by 1.9% compared to the previous year (January 2020). All other ingredients increased in price: flour (19.3%), cheese (18.3%), yeast (14.5%), butter (12.8%) and milk (7.2%).

ISET Policy Institute likes to keep our tradition alive and cook up a New Year’s Supra Index for our readers every year. The Index shows the cost of a standard festive “supra” meal for a family of five or six people in each region of Georgia. Traditional dishes included in our calculations are: mtsvadi (grilled cubes of meat), satsivi (chicken in walnut sauce), khachapuri, trout, (pan fried) chicken tabaka, salad Olivie, pkhali(chopped and minced vegetables with walnut), cucumber and tomato salad, and for dessert, fruit and gozinaki (caramelized walnuts fried in honey). The price of the New Year’s supra, of course, depends on the variety of dishes served for the feast.

The average cost of this New Year’s supra in December 2020 is 168.2 GEL, which is 4.2% higher compared to last year (December 2019).

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